Tetraphase Pharmaceuticals Announces Pricing of 4.5M Share Public Offering at $10 per Share

Tetraphase Pharmaceuticals

today announced the pricing of an underwritten public offering of 4.5 million shares of its common stock at a price of $10.00 per share, less underwriting discounts and commissions. The size of the offering was upsized from 3.3 million shares to 4.5 million shares, raising aggregate gross proceeds of $45 million. Tetraphase has granted the underwriters a 30-day option to purchase 675,000 additional shares of common stock on the same terms and conditions. The offering is expected to close on or about November 13, 2013, subject to customary closing conditions. BMO Capital Markets and Stifel are acting as joint book-running managers. Guggenheim Securities, JMP Securities, and Needham & Company are acting as co-managers. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (SEC). The offering is being made only by means of a prospectus. A copy of the final prospectus relating to these securities will be filed with the SEC and may be obtained, when available, on the SEC website at www.sec.gov. Copies of the final prospectus may also be obtained by contacting BMO Capital Markets Corp. at 3 Times Square, 27th Floor, New York, NY 10036, Attention: Equity Syndicate Department, by telephone at (800) 414-3627 or by email to bmoprospectus@bmo.com or by contacting Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by calling (415) 364-2500. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Tetraphase Pharmaceuticals, Inc. Tetraphase is a clinical-stage biopharmaceutical company using its proprietary chemistry technology to create novel antibiotics for serious and life-threatening multidrug-resistant bacterial infections. Tetraphase's lead product candidate, eravacycline, is a fully synthetic tetracycline derivative being developed as a broad-spectrum intravenous and oral antibiotic for use as a first-line empiric monotherapy for the treatment of multidrug-resistant infections, including MDR Gram-negative infections.